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Feb 26, 2014
02/14
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BLOOMBERG
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it is double taxed or triple tax currently. so those rates on shareholders should be reduced from where they currently are. >> maybe if you raise income taxes -- notes, reading for your one of the interesting things i thought was you say that this proposal is "good and achievable." i thought that was interesting. it's not great though, right? you mentioned the things that make it achievable. it is revenue neutral. maybe some people think that is a plus. it contains progressive and he. that is something you could argue across party lines. what makes this a great traffic -- what makes this a great tax-cut proposal and why don't we see that? >> there was the revenue too.ality box in 1996, reform will have political constraints. a lot of us think that good tax reform will raise economic growth and you would see revenue flow from that. the so-called dynamic scoring and just a much you count that. under conventional models, you go with the static scoring. you look at the boxes they are in right now, it makes it harder. lowering rates
it is double taxed or triple tax currently. so those rates on shareholders should be reduced from where they currently are. >> maybe if you raise income taxes -- notes, reading for your one of the interesting things i thought was you say that this proposal is "good and achievable." i thought that was interesting. it's not great though, right? you mentioned the things that make it achievable. it is revenue neutral. maybe some people think that is a plus. it contains progressive...
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wealthy people don't do much to help other people besides giving money to charity to get some sort of tax break kickback the thing they don't realize that helping other people out is actually in the best interest of rich guys too if they would ever just stop to think about it a little more so mega wealthy that you could live in total isolation you're going to have to deal with the rest of the people in your country and the better off that average guy is the less likely he's going to need to steal from you to get by ellen's work is fantastic because it gets veterans out of a desperate situation returning home wounded trying to struggle to find work in a. that economy and treat their wounds in a massively over expensive medical system yet well its plan is a drop in the bucket for the over twenty million american servicemen who have come back home but it shows that a wounded veteran with a place to live as a much better chance at a good life and the fewer vets there are living under a bridge the better society will be but that's just my opinion. the so so the. hello welcome to sophie and co
wealthy people don't do much to help other people besides giving money to charity to get some sort of tax break kickback the thing they don't realize that helping other people out is actually in the best interest of rich guys too if they would ever just stop to think about it a little more so mega wealthy that you could live in total isolation you're going to have to deal with the rest of the people in your country and the better off that average guy is the less likely he's going to need to...
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justice points out that at the end of the day is tax burden hits the poor especially hard adding that quote in every state low income taxpayers pay more as a share of income in the wealthiest one percent remember this report doesn't even take into account federal subsidies which highlights the need for more transparency on the issue of corporate welfare so you tell me which makes more sense continuing to bicker about food stamps or addressing the same corporate welfare that actually perpetuates poverty all in the name of job creation. the choice. was to go. america's one of the only so-called represented democracies in the world that is utterly dominated by two parties the democrats and the republicans the left versus the right it's all manufactured paradigm when in reality both parties are more in line of the each other and the majority of americans are in line with them what's even more frustrating is how hard it is to break through the political system as an independent or third party candidate without being completely marginalized by the media when one woman is taking that chance
justice points out that at the end of the day is tax burden hits the poor especially hard adding that quote in every state low income taxpayers pay more as a share of income in the wealthiest one percent remember this report doesn't even take into account federal subsidies which highlights the need for more transparency on the issue of corporate welfare so you tell me which makes more sense continuing to bicker about food stamps or addressing the same corporate welfare that actually perpetuates...
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Feb 26, 2014
02/14
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but will he discuss measures which will help people out of poverty like cutting tax on low pay, like helping troubled families? because there's nothing particularly moral about borrowing even more borrowed money come a system which can trap people in poverty. >> i think my right honorable friend is distinguished churchmen himself. talks perfect sense. there's nothing moral about running up huge deficits, about out of control welfare bills. if we don't deal with these problems the whole country will be poor. i think we should listen to the words of george carey, the former archbishop of canterbury who said this. the churches should be aware of the dangers of blindly defending a gargantuan welfare budget that increases politician would cut as a matter of economic common sense. i think serious politicians have to engage in this and that should go for everybody. >> ed miliband. [shouting] >> mr. speaker, i join my honorable friend and the prime minister in congratulating team gb on a brilliant performance at the window limits but as the threat of floods passes there's thousands out of th
but will he discuss measures which will help people out of poverty like cutting tax on low pay, like helping troubled families? because there's nothing particularly moral about borrowing even more borrowed money come a system which can trap people in poverty. >> i think my right honorable friend is distinguished churchmen himself. talks perfect sense. there's nothing moral about running up huge deficits, about out of control welfare bills. if we don't deal with these problems the whole...
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Feb 26, 2014
02/14
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for example, people who have certain tax deductions they have come to count on every tax season are not going to want to see those go away, regardless what they think of the irs, regardless whether they believe that those eliminating those tax deductions would lower tax rates overall. so i think that is just one example of why this is so volatile. perhaps we could see action on it after election season is over. certainly depending who holds the senate next year. it will be very interesting to see the future of these proposals. but in terms of reforming, for example, tax-exempt groups, there is nothing more vital to the republican base than keeping their ability to, to do political action through some of these increasingly powerful organizations. jon: so is that why republicans are so keen, for instance, to get lois lerner back in front of the committee to testify on capitol hill? >> yes, they do not feel lois lerner has not been up front. in many ways she hasn't. she pleaded the fifth and did not answer republicans questions last time she was on capitol hill. in fact we saw republican l
for example, people who have certain tax deductions they have come to count on every tax season are not going to want to see those go away, regardless what they think of the irs, regardless whether they believe that those eliminating those tax deductions would lower tax rates overall. so i think that is just one example of why this is so volatile. perhaps we could see action on it after election season is over. certainly depending who holds the senate next year. it will be very interesting to...
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Feb 26, 2014
02/14
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it wants the taxes the swiss banks helped americans to dodge. our correspondent imojen foulkes is following the story from geneva. >> reporter: i think some of the detail is causing raised eyebrows in switzerland. they have a reputation for being rather cautious and careful. this comes like something out of a spy novel or a hollywood movie. the fact is the swiss do know that their big banks, credit suisse and ubs, at that period you were talking about, 2001 to 2008 were doing this kind of thing. it's pretty common knowledge. it's changed since then. there's been a big crackdown. nevertheless, we see -- i think what we see particularly with this report is that united states, there's no way it's going to give up on that lost tax revenue, and it is prepared to go into detail like this and release it because they still have credit suisse in their sights. they want that money back. i think credit suisse itself has not commented but will be very nervous. >> i am sure. despite these underhand tactics, it seems swiss banks are going to get off quite lig
it wants the taxes the swiss banks helped americans to dodge. our correspondent imojen foulkes is following the story from geneva. >> reporter: i think some of the detail is causing raised eyebrows in switzerland. they have a reputation for being rather cautious and careful. this comes like something out of a spy novel or a hollywood movie. the fact is the swiss do know that their big banks, credit suisse and ubs, at that period you were talking about, 2001 to 2008 were doing this kind of...
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Feb 26, 2014
02/14
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of switzerland's second largest bank said they knew nothing about people using swiss banks to dodge taxes. the hearing coming a day after a senate report that said that americans were hiding as much as $12 million in swiss banks. >> and now the jig is up, you say you can't cooperate because of swiss secrecy laws. those laws don't apply in the united states. you are operating in the united states. >> the bank admits some past misconduct by employees but the executive new nothing about it. >>> georgia debating whether to allow discrimination of gays based on religious beliefs. robert there is a delay in the proceedings, do we know why? >> reporter: indeed. they were supposed to meet in the state capitol this morning. they said they were going to have some provisions to the bill. perhaps they weren't ready to speak about the bill. maybe it's pub back from businesses or maybe it's the outrage they are seeing in arizona. but the bill basically says -- it allows any individual or for-profit company who believe that homosexuality is a sin, to openly discriminate against them by denying them empl
of switzerland's second largest bank said they knew nothing about people using swiss banks to dodge taxes. the hearing coming a day after a senate report that said that americans were hiding as much as $12 million in swiss banks. >> and now the jig is up, you say you can't cooperate because of swiss secrecy laws. those laws don't apply in the united states. you are operating in the united states. >> the bank admits some past misconduct by employees but the executive new nothing...
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Feb 26, 2014
02/14
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tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning. >> good evening if you're watching in sipping apore as well. good e-mails coming out of credit suisse or conversations out of the investigation? >> it's a little bit embarrassing. we were waiting for the juicy details. interesting, there is going to be a comparison with ubs, they settled several years ago $780 million they settled for and credit suisse settled with the sec and did say to us the latest earnings they're just waiting now for the department of justice in the u.s. to state their claim and how much they expect the
tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning....
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Feb 26, 2014
02/14
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KCSM
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this was arrested and has even been awake on taxes the stereo cabinet process it says to me to have leadership that does make you stay away from interrupting a name that can be treatments leopold who has been grabbing headlines here on the fourth year old former mayor of the crew of the caracas district of chicago. minutes before his arrest last week addressed the crowd the streets of the capital an elaborate on that and to whom must go the air. i have read. if i had. yet the target. all those who knew. when you read it you dear say that many people don't care about being fooled and sore and we can confuse who ran for president you feel about them. does this figure heads of the opposition. actually i understand them because people are not surprised since two. sonic and the nuclear deal in line with its overt in our history and it's actually punished us for some young people must like canned for anything that we can hide in the country for the twenty five thousand designs that were amended last year the way under thirty years old. that people may have to wait in queue in lines for hours the hou
this was arrested and has even been awake on taxes the stereo cabinet process it says to me to have leadership that does make you stay away from interrupting a name that can be treatments leopold who has been grabbing headlines here on the fourth year old former mayor of the crew of the caracas district of chicago. minutes before his arrest last week addressed the crowd the streets of the capital an elaborate on that and to whom must go the air. i have read. if i had. yet the target. all those...
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Feb 26, 2014
02/14
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BLOOMBERG
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tax code -- credit suisse has acknowledged misconduct in the u.s. tax code. we discussed that after the break. ♪ morning, welcome back. you are watching "the pulse," live from bloomberg's european headquarters in london. currency markets -- let me show you what is happening with the pound. trading near the top end of the daily range, 1.6691. on gdp thisread morning, in line with estimates. the thing you can take away from date of this morning as that they are showing some really decent pickups in key areas of the economy that are now crucial to the recovery becoming self-sustaining. for instance, net trade, a big area the governor is concerned about. george osborne talking about this starting to pick up and adding a portion of that 0,7 to the growth number. good numbers coming out of the u.k., not better than expected, but the composition of the gdp read is slightly better than anticipated, hence the rebound in the pound versus the u.s. dollar. let's turn our attention to one of our main stories, credit suisse, a u.s. senate committee bank held american cus
tax code -- credit suisse has acknowledged misconduct in the u.s. tax code. we discussed that after the break. ♪ morning, welcome back. you are watching "the pulse," live from bloomberg's european headquarters in london. currency markets -- let me show you what is happening with the pound. trading near the top end of the daily range, 1.6691. on gdp thisread morning, in line with estimates. the thing you can take away from date of this morning as that they are showing some really...
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Feb 26, 2014
02/14
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americans care about tax cheats. taxes matter to americans. this country was born in a tax revolt. it is like being on the interstate caught between an 18 will -- 18 wheeler and the guard rail. >> i want to go to the midwest. robert nardelli is with us, he has filed consecutive tax forms. how is a heavy hitter like you thinking about swiss bank accounts as americans hide money? >> first of all, you have to have a lot of money to even think about swiss bank accounts. that rules me out initially. >> right. >> i was going to say, queue the laugh track. big thing is when you talk about the sec, it is notable to see how they have become a profit center recently. where is all of that money going? >> they did settle the books and records violation with the sec over the managing of these tax accounts. >> slap on the wrist? >> $200 million. >> once upon a time that was not a slap on the wrist. yes, but the, criminal investigation continues. >> but why so small? >> that is the simple penalty. they are negotiating with credit suisse over a penalty. this,l be bigger than alternately. >> one wo
americans care about tax cheats. taxes matter to americans. this country was born in a tax revolt. it is like being on the interstate caught between an 18 will -- 18 wheeler and the guard rail. >> i want to go to the midwest. robert nardelli is with us, he has filed consecutive tax forms. how is a heavy hitter like you thinking about swiss bank accounts as americans hide money? >> first of all, you have to have a lot of money to even think about swiss bank accounts. that rules me...
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Feb 26, 2014
02/14
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the kentucky republican said he sees no hopes for major tax overhaul this year. he blames democrats, who he says wants to recognize $1 trillion in revenue. he said changes in the tax code should make the company more competitive, not raise more money for the government. >> looking at the weather front, the west could be seeing rain today. >> definitely changes on the way. that is not the case unfortunately here across the upper midwest where the cold air is locked in place, so our cold weather woes continue with a wind chill warning in place across the u.p. of michigan where it could get 40 below zero in the overnight hours. today, we have high pressure that continues to build in, drawing down that arctic air mass into the southern plains and spreading to the east. here in texas, temperatures at much as 20 degrees colder than this time yesterday, so in addition to the rain and thunderstorm activity, we're seeing along the gulf coast further inland, we are seeing patchy, in land rain for slick roadways. in the western u.s., it's fairly quiet especially across sout
the kentucky republican said he sees no hopes for major tax overhaul this year. he blames democrats, who he says wants to recognize $1 trillion in revenue. he said changes in the tax code should make the company more competitive, not raise more money for the government. >> looking at the weather front, the west could be seeing rain today. >> definitely changes on the way. that is not the case unfortunately here across the upper midwest where the cold air is locked in place, so our...
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Feb 26, 2014
02/14
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BLOOMBERG
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full-year earnings interest before tax, 3.6 billion euros. dividend to $.75. the game for the charges, here we go. 434 million charge for the a350 and restructuring. this is the double long-haul plane. if you are going to america or another nice destination, this is the plane. it will go head-to-head with the dreamliner and costs have been mounting. restructuring, they have put this unit into one. you've seen the charges, 434 million euro or the a350. calexico is a huge range in terms of analyst expectations. -- >> it is a huge range. i'm wondering how that will go down with investors. of the units.ing >> they are pitting the airbus at the front of the company. >> hence the new name. we don't talk about aeds anymore. gave the employees t-shirts apparently when they relaunched the name at the end of last year. airbus can fit on a it t-shirt itsn a t-shirt but aeds in true form cannot. u.s.nts on brazil and the and what they are looking for ahead of earnings. or fifths of profits come from the region. offset by a winter. brazil beer volumes and they have seen so
full-year earnings interest before tax, 3.6 billion euros. dividend to $.75. the game for the charges, here we go. 434 million charge for the a350 and restructuring. this is the double long-haul plane. if you are going to america or another nice destination, this is the plane. it will go head-to-head with the dreamliner and costs have been mounting. restructuring, they have put this unit into one. you've seen the charges, 434 million euro or the a350. calexico is a huge range in terms of...